My noble Friend, the Minister of State for Trade and Industry, Lord Green, has made the following statement:

I would like to inform the House of a new strategy for UK Trade and Investment (UKTI), the lead UK Government body for export and inward investment promotion. The new strategy sets out the context for the Government’s approach for trade and investment, including through the recent trade and investment White Paper and growth review. It identifies pathways to balanced growth through trade and investment. It announces the new focus for our trade and investment promotion efforts. Finally, it explains new ways of working for UKTI. It will run from now to 2015. Alongside it a BIS Economics paper is to be published. “Trade and Investment: the Economic Rationale for Government Support”. Copies of the new UKTI strategy have been placed in the Libraries of both Houses.